iShares Currency Hedged MSCI EAFE ETF
$46.51+0.07 (+0.15%)
- 0.70%
- $7.5B
- +22.4%
- 4.03%
- 0.6M sh
- $46.44
- low $39.82high $48.00
The ETF.net HEFA Grade
C
Score 39 out of 100
- 21 of 21
Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25. The letter stays C for now. A new letter must hold for 3 published runs before it replaces it.
Cost
The fund’s net expense ratio, ranked against its category.F0 out of 100Rank 21 of 21Mission
Whether the fund did what it promised, tested against its stated mandate.Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.B65 out of 100Rank 2 of 21Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B67 out of 100Rank 6 of 21Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B69 out of 100Rank 7 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B61 out of 100Rank 9 of 21
Our read on HEFA
CDeveloped-market stocks from Europe, Japan and Australia with the currency swings stripped out. iShares' long-running hedged EAFE fund owns the same companies as the standard index, then neutralizes most of the yen, euro and pound moves.
The fund seeks to track an index of international equities in developed markets while reducing the effect of currency fluctuations.
Why people hold it
- One job, stated plainly: MSCI EAFE developed-market equities with currency exposure hedged to the dollar, so results lean on the companies rather than the yen, euro and pound.
- A multi-billion-dollar fund that trades actively, making it one of the more established vehicles for hedged developed international exposure.
- Running since 2014 under the iShares banner, tracking a published benchmark (MSCI EAFE 100% Hedged to USD) you can check the fund against.
- Distributions arrive on a quarterly cadence.
Worth knowing
- The hedge is not free: the expense ratio sits well above the roughly 0.18% median for this peer group and far above the 0.03% charged by VEA, SPDW and SCHF.
- Hedging cuts both ways. When the dollar weakens, unhedged developed-market funds pick up that currency move and this one is designed to sit it out.
- Measured against the plain, cheap trackers in its cohort, it lands in the lower tier overall, mostly on price.
HEFA Holdings
- Stocks
- 679
- 14%
- ASML.AS
Geography
- Japan25.23%
- United Kingdom13.58%
- Switzerland9.52%
- Germany8.56%
- France8.14%
- Netherlands6.98%
- Australia6.36%
- Spain3.82%
- 17.81%
Developed 99% · Emerging 1%
HEFA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
HEFA$12,236
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | HEFA |
|---|---|
| Year to date | +14.0% |
| 1 month | −0.2% |
| 3 months | +0.2% |
| 1 year | +22.4% |
| 3 years | +19.4% |
| 5 years | +14.1% |
| 10 years | +12.2% |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | HEFA |
|---|---|---|
| 2026 YTD | +14.0% | |
| 2025 | +24.5% | |
| 2024 | +13.7% | |
| 2023 | +20.3% | |
| 2022 | −4.8% | |
| 2021 | +19.6% | |
| 2020 | +2.1% |
HEFA in the news
Filings Digest
AllianzIM launches OCTI and resets October buffer terms
HEFA Dividends
- 4.03%
- $1.87
- $0.69 per share
- Twice a year
Distribution history
HEFA Risk
- 8.7%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- 1.60
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −14.8%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.51
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
HEFA Cost
0.70%
HEFA0.70%
- The middle half of Developed International Core funds
- Median 0.09%
Every other Developed International Core fund charges less.
Other funds in Developed International Core
- CPXFInvesco RAFI Developed Markets ex-U.S. ETFExpense ratio 0.43%1 year return +30.1%
- CGSIDGoldman Sachs MarketBeta International Equity ETFExpense ratio 0.25%1 year return +16.1%
- CTOKiShares MSCI Kokusai ETFExpense ratio 0.25%1 year return +18.3%
- CHFXINYLI FTSE International Equity Currency Neutral ETFExpense ratio 0.19%1 year return +23.6%
- CDBEFXtrackers MSCI EAFE Hedged Equity ETFExpense ratio 0.35%1 year return +21.3%